SBA, State, City Updates on Funding and Other Support for Businesses
TIME SENSITIVE —
- Emergency Rental Assistance Program
- Applications open: May 13, 2020
- $3.7 million program provides a lifeline to income-eligible renters and mom-and-pop landlords in unincorporated areas of LA County.
- Apply here: https://2020.211la.org/form/covid-rental-assistance
- LADOT Temporary Retail Pick Up Parking Zone – application open
- LADOT is helping retail establishments provide pick-up only options by supplying parking signs free-of-charge to businesses that apply.
- Read more & apply here: https://ladot.lacity.org/coronavirus/apply-temporary-retail-pick-parking-zone
- Magic Johnson with EquiTrust Life Insurance
- Magic Johnson announced that EquiTrust Life Insurance Co. – of which he owns a majority – is providing $100 million in capital to fund federal loans for minority and women business owners who have been hit hard by the coronavirus pandemic.
- EquiTrust will work with MBE Capital Partners to distribute the loans through the federal government’s Paycheck Protection Program (PPP).
- Apply here: https://www.mbecp.com/
- U.S. Small Business Administration – update 5/15/20 – SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application
- Application released: May 15, 2020
- Read more & apply here: https://www.sba.gov/about-sba/sba-newsroom/press-releases-media-advisories/sba-and-treasury-release-paycheck-protection-program-loan-forgiveness-application
- More information
- Business & Worker Disaster Help Center by L.A. County
- Business Recovery Loans by Los Angeles County Development Authority
- Economic Injury Disaster Assistance Loans, and advance economic injury disaster loan on by Small Business Administration
- 4/20/20 – FAQS on PPP & EIDL
- 4/16/20 – EIDL APPLICATION CLOSED. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.
- Employer Assistance Grant Fund from LA County – Opens on 4/8/20 – APPLICATION CLOSED
- $10,000 given to each business
- Applications will be processed on a first-come, first-serve basis and will close at 150 applicants.
- APPLICATION CLOSED – Join waitlist here: https://mywdacs.force.com/community/WDACSGrantManagementLogin
- More information
- Entertainment Workers – resources from FilmLA
- Guidance for Businesses and Employers from Assemblywoman Autumn Burke
- Job Portal by City of Los Angeles
- Save Small Business Grant Fund – Opens on 4/20/20 – closed as of 4/21/20 4/21/20 – APPLICATION CLOSED
- U.S. Chamber Foundation will be providing $5,000 supplemental grants to small employers in economically vulnerable communities.
- Learn more: https://www.savesmallbusiness.com/
- More information
- Small Business Emergency Microloan Program by the City of Los Angeles
- Small Business Resource List from California State Treasurer Fiona Ma’s Office
- Special Tax Relief – CA Postpones Tax Deadlines until July 15, 2020
- Resource Guide from Los Angeles Area Chamber
- Resources for Businesses from Google
- Resources for Businesses, including what to know about the federal small business stimulus aid programs from U.S. Chamber of Commerce